71.7% of Chinese workers in small and medium-sized companies returned to work on Thursday, according to government data. While Singapore is preparing for a drop in its growth rate ranging from 1 to 4%.
The informal sector in India needs its workers to help, while the closure begins 21 days, the Senate passes a bill worth $ 2 trillion.
Yesterday, March 25, the number of documented cases reached 416,686, and deaths reached 18,589, according to the World Health Organization.
The Ministry of Industry and Information confirmed the resumption of the work rate in small and medium-sized companies, which amounted to 71.7% on March 24, an increase of 42.1% over the month of February.
India has started a 21-day closure to halt the outbreak of the Coronavirus. But Konal Kondo, he tells CNBC, said he feared the impact from the private sector, where employees go out for sales, among others.
The Ministry of Trade and Industry has warned that the country’s economy will shrink by between 1 and 4% this year, with a contraction of 2.2% from the first quarter in 2019.
In forecasts, GDP fell between 0.5% and 1.5%.
After the opposition yesterday from both sides, they reached an agreement on passing a bill allowing $ 2 trillion to save businesses and people from the devastating economic consequences of the Coronavirus.
This was not a pure victory for Trump and his Republican Party, as the Senator from Vermont and the presidential candidate, Bernie Sanders, imposed one of the provisions that allows people to receive their full wages if they are laid off from their work.
And Bernie stood alone against the Republicans, to prevent the passage of the law, which in his view only helps companies and does not care about individuals, adding more favorable provisions to those who lose their jobs.
Today, we are awaiting the Unemployment Claims report, to know the extent of the damage done to the health sector.